1125 250American Fork, UT 84003

Property Details for 1125 250

Year built

2024

Lot size

0.59 AC

Property size (Sq ft)

17,966 SF

Property type

Apartment buildings

Description

This exceptional 18-unit apartment building, constructed in 2024, presents a rare investment opportunity in American Fork, Utah. The Class A, three-story property boasts 17,966 square feet on a 0.59-acre lot and features a desirable unit mix: three 3-bedroom/2-bathroom units, nine 2-bedroom/2-bathroom units, and six 1-bedroom/1-bathroom units, all with patios or balconies. Currently operating at 95% occupancy, the building offers a stabilized pro-forma NOI of $261,147 and a pro-forma cap rate of 4.43%. Modern amenities include a clubhouse, pool, and hot tub, with a gym currently under construction. Units showcase open floor plans, large windows, wood-type flooring, granite countertops, upgraded white cabinets, and 9-foot ceilings. The building's prime location offers convenient access to the American Fork TRAX station and I-15, placing residents near shopping, dining, and entertainment. Current rents are below market, presenting significant potential for future rent increases. The asking price is $5,900,000, or $327,778 per unit. The property is zoned MF and has a permitted zoning designation. The seller prefers a closing after January 1, 2025, but will consider a December closing with a strong offer. All information is deemed reliable but not guaranteed; buyer is responsible for verification.

Location Insight

City

American Fork

County

Utah

State

Utah

Latitude

40.3716

Longitude

-111.827

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